96.550 Definitions for KRS 96.550 to 96.900.
489 words·~2 min read·
/ky/chapter-96/96-550A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As used in KRS 96.550 to 96.900, unless the context requires otherwise:
(1)"Acquire" shall mean and include construct, acquire by purchase, by lease, devise,
gift, or the exercise of the right of eminent domain in the manner now or hereafter
provided by law for the exercise thereof and acquisition by any other mode.
(2)"Board" shall mean a board of public utilities established pursuant to KRS 96.740.
(3)"Bonds" shall mean either general obligation bonds or revenue bonds.
(4)"Constitution" shall mean the Constitution of Kentucky.
(5)"Electric plant" shall mean and include any plant, works, systems, facilities, and
properties (including poles, wires, stations, transformers, and any and all equipment
and machinery), together with all parts thereof and appurtenances thereto, used or
useful in the generation, production, transmission, or distribution of energy.
(6)"Energy" shall mean and include any and all electric energy no matter where or how
generated, produced, transmitted, or conveyed.
(7)"Electric service" shall mean the furnishing of electric power and energy for any
purpose for which electric power and energy can be used.
(8)"General obligation bonds" shall mean direct or general obligations of any
municipality, issued within the limits and subject to the provisions of Sections 157
and 158 of the Constitution.
(9)"Governing body" shall mean the board, council, commission, fiscal court, or other
general governing body of the municipality.
(10)"Governmental agency" includes the United States, the President, the federal works
agency, the federal lending agency, Tennessee Valley Authority, or any other
similar agency, instrumentality, or corporation of the United States, or of Kentucky
or any political subdivision thereof, created by or pursuant to any Act of Congress
or by state legislation.
(11)"Improve" shall mean and include construct, reconstruct, improve, extend, enlarge,
alter, better, and repair.
(12)"Improvement" shall mean any improvement, extension, betterment, or addition to
any electric plant.
(13)"Law" shall mean any statute of this state.
(14)"Mayor" shall mean the mayor of any class city unless there be a city manager, then
it shall mean city manager, or the county judge/executive of any county. "Mayor"
shall also mean the mayor of a consolidated local government.
(15)"Municipality" shall mean any county, city, consolidated local government, or
municipal corporation of any and every class in the Commonwealth of Kentucky.
(16)"Revenue bonds" shall mean obligations payable solely from the revenues derived
from the operation of an electric plant and such bonds shall not constitute an
indebtedness of any municipality within the meaning of the provisions or
limitations of the Constitution.
(17)"Net revenues" shall mean revenues remaining after payments of:
(a)All payments provided for herein to be made to the state, county, school or
other taxing district;
(b)The payments of salaries, and premiums on bonds of officers and employees
of the board; and
(c)All other ordinary and necessary operating expenses of the board in the
operation of the electric plant including reserves for depreciation.